Apax Spins Out Finastra Treasury and Capital Markets Business as Teciem

Private equity firm Apax Partners has officially launched Teciem, a standalone company formed from Finastra’s former Treasury and Capital Markets (TCM) division, marking one of the most significant carve-outs in financial software this year.

The launch of Teciem represents the culmination of Finastra’s strategic decision to divest its TCM business, originally announced in mid-2025, and reflects a broader shift in how specialised financial technology platforms are being positioned for growth outside large software conglomerates.

In an era where specialised market infrastructure matters more than ever, the birth of Teciem signals renewed focus on innovation within treasury and capital markets software.

A Standalone Identity for an Established Business

Teciem inherits a portfolio that includes some of the most widely used treasury and capital markets systems in the world — from Kondor and Summit to Opics, Sophis, Fusion Risk, and Fusion Invest — all of which are deeply embedded across banks’ operational infrastructure.

These products support core functions for financial institutions, including risk management, liquidity optimisation, regulatory compliance, and investment processing. With roots that stretch back decades, the portfolio is not new; what is new is its independent status and the opportunity for renewed investment and strategic focus.

Teciem enters the market not as a start-up, but as a mature, mission-critical technology provider backed by substantial private equity capital.

Continuity With Change: People and Leadership

One of the most notable aspects of the spin-out is the seamless transition for people and leadership. The entire leadership team from Finastra’s TCM unit — along with approximately 1,300 employees — has moved to Teciem, ensuring continuity for customers and preserving deep domain expertise.

At the helm of the new company is Wissam Khoury, the TCM unit’s former Senior Vice President who brings 25 years of financial technology experience. Khoury’s appointment as Teciem’s CEO not only offers reassurance to clients, but also signals a focused ambition: to accelerate innovation in a market where modernisation has often lagged behind expectations.

In financial software, leadership continuity is rare — in this case, it may prove decisive.

Strategic Backing From Apax Partners

The transaction, initially agreed between Finastra and Apax Partners in May 2025, was expected to be valued around $2 billion, including debt, though the exact figure was not publicly disclosed upon closure.

Apax’s commitment to the new entity extends beyond acquisition. The firm plans to invest selectively in product development, enhance talent acquisition, and bolster go-to-market capabilities. This reflects a broader private equity trend in financial technology: backing specialised infrastructure companies with deep client relationships and recurring revenue profiles.

By transforming the TCM unit into Teciem, Apax is betting on the long-term demand for robust, scalable treasury and markets platforms.

Why This Matters for Financial Institutions

For banks and financial institutions, the creation of Teciem has dual importance.

First, it preserves access to established systems that underpin daily treasury and capital markets operations. These tools are often mission-critical, processing billions in transactions, managing liquidity following regulatory shifts, and reporting in compliance with evolving standards. Disruption or uncertainty around this software could have far-reaching operational implications.

Second, as a standalone entity, Teciem is now better positioned to innovate rapidly. Freed from the broader strategic priorities of a diversified vendor, the company can streamline its development roadmap, pursue cloud-native capabilities, and respond more directly to client needs.

Clients of treasury and capital markets software have historically been underserved when it comes to innovation velocity — Teciem may change that.

What the Spin-Out Says About Fintech Market Dynamics

Finastra’s decision to divest the TCM business fits a broader narrative in financial technology: the unbundling of large monolithic software providers into more agile, specialised firms. As financial institutions seek differentiated solutions for front-to-back operations, they increasingly favour vendors that can offer speed, flexibility, and deep domain expertise.

For Finastra, selling the TCM unit creates capital that can be reinvested into other areas, such as lending, payments, and universal banking platforms — segments where the company has continued to focus historically. Apax’s acquisition, meanwhile, consolidates a rich suite of treasury technologies under a brand dedicated exclusively to that mission.

This spin-out underscores a maturing software market where focus and specialisation are becoming strategic imperatives.

Looking Ahead: Innovation and Expansion

Under Apax’s stewardship, Teciem plans to prioritise both product evolution and specialist talent growth — a combination aimed at delivering enhanced value to its extensive client base, which includes more than 340 financial institutions and about 70 of the world’s largest banks.

Investments are expected in cloud capabilities, API integration, real-time analytics, and regulatory tooling, all of which are critical as banks navigate increasingly complex market environments. Moreover, with a leadership team intimately familiar with the technology and industry, Teciem is poised to maintain deep client relationships while pushing forward with modernisation.

In a rapidly changing treasury ecosystem, having a focused technology partner may no longer be optional — it could be a competitive differentiator.

Conclusion

The launch of Teciem marks a defining moment in the evolution of financial technology infrastructure. By spinning out Finastra’s Treasury and Capital Markets business into a dedicated, well-capitalised entity, Apax Partners has created a platform that could reshape how banks and financial institutions approach core operational software.

As the company transitions from legacy under a major vendor to a standalone innovator, the success of this strategy will be watched closely by clients, competitors, and investors alike.

In an industry where continuity matters as much as innovation, Teciem may be the new face of treasury and capital markets technology.

#ApaxPartners#FintechSpinout #FinancialSoftware#Teciem#TreasuryTechCapitalMarketsFinastra